Dain's Diamond Bit Drilling purchased the following assets this year Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date February 17 August 27 June 8 Original Basis $128,500 141,000 294,000 Assume its taxable income for the year was S56,500 before deducting any S179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Dain's maximum $179 expense for the year? $179 expense$ 56,500 b. What is Dain's maximum depreciation expense for the year (including S179 expense)? Depreciation expense (including 8179 expense) c. If the February drill bits' original basis was $2,394,500, what is Dain's maximum $179 expense for the year? $179 expense d. If the February drill bits' basis was $2,514,500, what is Dain's maximum $179 expense for the year? $179 expense Dain's Diamond Bit Drilling purchased the following assets this year Drill bits (5-year) Drill bits (5-year) Commercial building Purchase Date February 17 August 27 June 8 Original Basis $128,500 141,000 294,000 Assume its taxable income for the year was S56,500 before deducting any S179 expense (assume no bonus depreciation). (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Dain's maximum $179 expense for the year? $179 expense$ 56,500 b. What is Dain's maximum depreciation expense for the year (including S179 expense)? Depreciation expense (including 8179 expense) c. If the February drill bits' original basis was $2,394,500, what is Dain's maximum $179 expense for the year? $179 expense d. If the February drill bits' basis was $2,514,500, what is Dain's maximum $179 expense for the year? $179 expense